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AnPac Bio-Medical Science Co., Ltd. (ANPC) received approval from China's National Medical Products Administration to start registration testing for its Class III lung cancer diagnostic device. This milestone, achieved after a lengthy application process since December 2018, allows AnPac to move forward towards clinical trials at qualified institutions. Their CDA technology has tested over 200,000 samples, showing promise in early cancer detection. Successful registration could open the Chinese hospital market for AnPac, enhancing future revenue growth.
AnPac Bio-Medical Science (NASDAQ: ANPC) recently secured its 20th U.S. patent, titled “Apparatus for Detecting Tumor Cells,” on January 19, 2021. This patent, covering multi-cancer detection technologies, includes 38 claims related to detection mechanisms, reagents, and apparatus components. The company has over 200 patent applications filed globally and ranks third in the early cancer screening market based on clinical samples. The newly granted patent reinforces AnPac's intellectual property strategy and aims to enhance the performance of its upcoming cancer screening products.
AnPac Bio-Medical Science Co., Ltd. (ANPC) announced significant advancements in early cancer detection, particularly with its Cancer Differentiation Analysis (CDA) technology. A recent large-scale study screened over 110,000 individuals, identifying over 20 types of pre-cancer diseases with high sensitivity. The study confirmed that AnPac's technology is effective, diagnosing pre-cancer cases at 4.5 times the rate of cancer cases. Dr. Chris Yu highlighted the commercial potential of these breakthroughs, suggesting they will expand the company's market and revenue opportunities significantly.
Anpac Bio-Medical Science Co., Ltd. (ANPC) announced the resignation of Ernst & Young Hua Ming LLP as its independent auditor on November 3, 2020, and subsequently appointed Friedman LLP on December 2, 2020. This change was approved by the audit committee and board of directors and was not due to disagreements with EY. The prior reports from EY on Anpac's financial statements for the years ended December 31, 2018, and 2019 were unqualified. Anpac Bio focuses on early cancer screening with a portfolio of 128 patents and operates clinical laboratories in China and the U.S.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) reported record demand for its cancer screening tests in Q3 2020, forecasting a 100% revenue growth for the year, ranging between US$3 million to US$3.3 million compared to US$1.6 million in 2019. The strong demand stems from market acceptance of its unique cancer differentiation analysis (CDA) technology, which can detect over 20 cancer types. The company plans to enhance its average selling price and gross margins while focusing on new product development, particularly in the US market.
AnPac Bio-Medical Science Co., Ltd. (ANPC) has appointed Professor Jianhua Shao as an independent director and member of the compensation committee, effective November 12, 2020. Shao succeeds Mr. Jiefeng Gu, who resigned for personal reasons on the same date. Professor Shao, with a strong background in biophysics and extensive research experience, aims to enhance AnPac's mission in early cancer detection. AnPac is recognized for its cancer screening technologies, holding 128 patents and ranking third worldwide for clinical samples in this field as of May 2020.
AnPac Bio-Medical Science Co. has completed the FDA EUA verification for its COVID-19 antibody test at its San Jose lab, marking its first commercialized test in the U.S. The company also installed the necessary equipment in its Philadelphia lab. This achievement underlines AnPac Bio's commitment to developing COVID-19 testing solutions amid rising cases. Additionally, the firm continues to prioritize cancer screening tests, currently working on the registration of its Cancer Differentiation Analysis (CDA) technology in China and validation in the U.S.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) announced that its joint venture, Jiangsu AnPac Health Management Co., Ltd., received certification for COVID-19 nucleic acid tests on October 17, 2020. Jiangsu AnPac has begun conducting paid tests as demand for COVID-19 testing rises. AnPac Bio is expanding its product offerings by developing new COVID-19 test technologies alongside its cancer screening services. The CEO, Dr. Chris Yu, emphasized that the launch of these tests will significantly contribute to revenue growth in the coming years.
Anpac Bio-Medical Science Co., Ltd. (ANPC) announced achieving a milestone of over 200,000 cancer detection tests completed as of September 30, 2020, utilizing its Cancer Differentiation Analysis (CDA) technology. This innovative approach allows for screening of nearly 60 cancer types, including hard-to-detect cancers like esophageal and brain tumors. The company reported an increase of over 20,000 tests since June 30, 2020. CEO Dr. Chris Yu highlighted the technology's potential as a cost-effective alternative to traditional methods, emphasizing its high sensitivity and specificity.
AnPac Bio-Medical Science Co. announced it has secured approximately $8 million in grants and a rental award from local authorities in China to support its R&D and product commercialization efforts. These funds will be distributed over a few years, starting this quarter, and are tied to specific milestone achievements. CEO Dr. Chris Yu expressed optimism about accelerating R&D and cancer detection product commercialization in both China and the U.S. AnPac Bio ranks highly in cancer screening technology, with a focus on early detection.
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